Impact: Negative, as the result of a CCAA sales process has a high probability of leaving equity holders with zero residual value. Lightstream has formally entered into a CCAA sales process after failing to meet conditions under its recapitalization agreement related to litigation commenced by holders of the Company's US$254 mm of unsecured notes. The initial CCAA hearing will be on September 26, 2016. Once the CCAA process has officially commenced, we expect there will be a bidding time fram
19 Sep 2016
ANNOUNCES INITIATION OF CCAA SALES PROCESS AFTER RECAPITALIZATION PROPOSAL FAILS TO PROCEED
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ANNOUNCES INITIATION OF CCAA SALES PROCESS AFTER RECAPITALIZATION PROPOSAL FAILS TO PROCEED
- Published:
19 Sep 2016 -
Author:
Cody R. Kwong -
Pages:
3
Impact: Negative, as the result of a CCAA sales process has a high probability of leaving equity holders with zero residual value. Lightstream has formally entered into a CCAA sales process after failing to meet conditions under its recapitalization agreement related to litigation commenced by holders of the Company's US$254 mm of unsecured notes. The initial CCAA hearing will be on September 26, 2016. Once the CCAA process has officially commenced, we expect there will be a bidding time fram